Homeowners Insurance

Homeowners insurance is specifically designed to protect single family homes, manufactured homes or trailer homes. This insurance is mandated by numerous mortgage companies to cover expenses when and if the home or its contents are damaged. Although a home without a mortgage loan is not required to have homeowners insurance, it’s a must for any homeowner who wishes to protect what is probably their biggest investment.

Homeowner’s insurance can take care of the expense of repairing or rebuilding a home, replacement of individual possessions in the home, and living expenses while the home is being repaired. Policies can additionally include liability insurance, which will cover mishaps in the home or harm to someone else’s property.

Your homeowners insurance is paid in installments, called premiums. The amount of the premium depends on the value of the home, in addition to other things. For example, loss of use, replacement costs of belongings, and repair or replacement of other structures on the property. At the point when a homeowner files a claim, most coverage then includes a deductible to be paid by the homeowner. The amount of the deductible depends upon the coverage selected.

Envision returning after a full day of work and choosing to run a hot bath upstairs. Exhausted, you nod off and wake up to a flooding tub. There may be damage to your floors, ceiling and furniture in the room below. Thankfully, with homeowners insurance, the repairs to the home and replacement of the furniture will only cost you the amount of your deductible.

Life is full of the unexpected – storms, fires, break-ins, etc. Smart homeowners understand that things happen when you least expect it. Homeowners insurance can help give you peace of mind knowing that these events will not destroy your family’s financial future.